Affordable Complex Opens on Long-Vacant Site in Cypress Hills
City and state officials announced the completion of Logan Fountain, a new affordable housing development in the Cypress Hills neighborhood of Brooklyn. Developed by The Hudson Companies, the $214-million project transformed a vacant parcel at 265 Logan St. into affordable apartments, transitional housing for homeless families and retail space.
Totaling 343 units, the project includes 173 affordable apartments and 169 units of transitional housing, along with a unit reserved for a superintendent. The development is a city-state project with investments from New York State Homes and Community Renewal, New York City Department of Social Services and New York City Housing Preservation and Development.
Hudson Companies president David Kramer said, “Logan Fountain stands as the largest project of its kind in New York City — a truly groundbreaking achievement that brings much-needed housing and social services to East New York. Today’s ribbon-cutting marks the transformation of a long-vacant site into a vibrant, mixed-use development.”
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout